Nigerian Government Drops Money Laundering Charges Against Binance Executive

The Nigerian government has dropped money laundering charges against Binance executive Tigran Gambaryan, who had been detained in the country since February.

A lawyer representing the Economic and Financial Crimes Commission (EFCC) announced the charges were dropped at the Federal High Court in Abuja on Wednesday morning, as reported by Business Insider Africa. The Nigerian government will continue prosecuting Binance on the money laundering charges without Gambaryan, along with separate charges of tax evasion.

The decision to drop the charges on Gambaryan comes less than two weeks after a Nigerian court denied him bail on medical grounds. Gambaryan’s family protested the decision in a statement shared with The Block, stating there was "clear evidence of medical requirement," and that standard practices and precedents in the country should have allowed for his release.

Since Gambaryan’s transfer to Kuje prison in March, his physical and mental health has deteriorated rapidly, suffering from a herniated disc and bouts of pneumonia, malaria, and tonsillitis.

When entering the Abuja court on Sept. 2, he was denied the use of a wheelchair. A video of him arriving at court in a distressed state quickly spread on social media, drawing condemnation from Binance CEO Richard Teng, who demanded his release.

Gambaryan, a former Special Agent for the U.S. IRS and Binance’s Head of Financial Compliance, along with Nadeem Anjarwalla, Binance’s Africa Regional Manager, were detained after arriving in Nigeria’s capital city on Feb. 26.

Criminal charges were filed against Binance and the two executives on Feb. 28 in a $35 million money laundering and tax violation indictment. The tax charges against the executives were dropped in June, leaving Binance as the sole defendant, but money laundering charges against all defendants remain. Anjarwalla escaped from custody on March 22, while Gambaryan remained detained.

The Nigerian government previously called allegations of Gambaryan’s poor healthcare "false," asserting that the Binance executive "has access to quality medical care whenever required" along with consular services from the United States.

Gambaryan’s wife Yuki has repeatedly called for the U.S. government to intervene in the case and bring her husband home. The U.S. Foreign Affairs Committee passed a resolution demanding Gambaryan's release last month.